Ion Exchange (India) falls most in over 5 months on Q4 profit slip

Ion Exchange (India)

29/05/2023 09:00

** Shares of water treatment solutions firm Ion Exchange
(India) Ltd  IONX.NS  fall as much as 6.5% to 3,755 rupees 
    ** Co posts 1.7% drop in consolidated net profit
    ** Rev from ops rises 30.5% Y/Y to 6.47 bln rupees, while
total expenses surge ~34%
    ** IONX's steepest pct loss since Dec. 21
    ** About 51,314 shares change hands by 1:27 p.m. IST, 1.7x
the 30-day avg - Refinitiv Data
    ** Moving Average Convergence Divergence (MACD) line
slightly under signal line, suggesting bearish bias
    ** Stock last down 5.5%, cutting YTD gains to 37.4% 

($1 = 82.6641 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))